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Kia halts operations at S.Korea auto facility after accident at supplier
Kia said in a regulatory filing it had stopped production at three...
Microsoft offers a new tool to help US politicians crack down on Deepfakes
The new tool will allow parties to authenticate their videos and...
UK’s Aviva to Sell Entire Stake in Indonesia Joint Venture
Aviva began a review of its Asia business in 2019 under new CEO Maurice Tulloch. It said in November that it had decided to keep its Singapore and China operations, but was considering options for its Indonesia, Vietnamese and Hong Kong businesses.
Lawsuits against businesses over Coronavirus have begun. More to come?
Hospitals, restaurants, day care centers, nursing homes and hotels may face claims that they didn’t take adequate steps to protect people. Shareholders can sue if companies fail to act effectively in response to the epidemic. Businesses are scrambling to see if their insurance policies cover disruptions caused by the virus. Governments are reviewing their quarantine powers.
UK fines Cathay Pacific $639,000 for data-security lapses over 4-yr period
Between October 2014 and May 2018, Cathay Pacific’s computer systems “lacked appropriate security measures which led to customers’ personal details being exposed, 111,578 of whom were from the UK, and approximately 9.4 million more worldwide,” the UK Information Commissioner’s Office said in a statement on its website on Wednesday.
As India coronavirus cases spike, experts daunted by prospect of South Asia spread
“There is a strong possibility that the number of cases in India is much higher than what has been detected,” Arunkumar G., director of the Manipal Institute of Virology, said, citing a virus incubation of up to two weeks.
Parametric insurance could offer hotels relief from Coronavirus cancellations
The new hotel product is led by Tokyo Marine Kiln (TMK) and underwritten by Chaucer, Munich Re Syndicate, Beazley, Faraday and AXIS.
Coronavirus may force companies to rethink global supply chains: OECD Economist
The sprawling, continent-crossing supply chains of corporations have already come under pressure from trade tensions and climate concerns, and may face further stress as countries change global taxation rules. If and when the dust settles from the coronavirus, OECD’s chief economist Laurence Boone said firms will likely pause to reconsider what they do.
Half of world’s sandy beaches May Disappear, Say Climate Researchers
-Some countries will be more affected than others, the researchers said. Gambia and Guinea-Bissau in West Africa could lose more than 60% of their beaches, while predictions for Iraq, Pakistan, the island of Jersey in the English Channel and the Pacific island of Palau are similarly dire.
-Australia would be hardest-hit in terms of total beach coastline lost, with over 12,000 kilometers (7,500 miles) at risk. The United States, Canada, Mexico, China, Iran, Argentina and Chile would also lose thousands of kilometers (miles) of beach, according to the study.
Fed cuts rates to blunt coronavirus impact, markets drop
Fed Chair Jerome Powell reiterated his view that the U.S. economy remains strong, but said the spread of the virus had caused a material change in the U.S. central bank’s outlook for growth.
France’s Covea to acquier PartnerRe for $9 billion
Thierry Derez, Chairman and CEO of Covéa, said: “This acquisition project comes at a time when the insurance sector is undergoing fundamental transformation, with emergence of new risks and new lifestyles, and increasing new participants entering insurance markets. It perfectly fits our growth strategy, our ability to adapt, the necessary complementarity of expertises and the importance of risks mutualization on a global basis. It would consolidate the future of PartnerRe and our mutual Group, serving the interests of our members and clients, as well as of our employees and partners.”
Europe ‘panicking’ over India’s pharmaceutical export curbs: Industry group
The government’s list of 26 active pharmaceutical ingredients (APIs) and medicines accounts for 10% of all Indian pharmaceutical exports and includes several antibiotics, such as tinidazole and erythromycin, the hormone progesterone and Vitamin B12.